Quote:
Originally Posted by fishbones
Seriously, I think most teachers go into it because they really want to help children learn. In order to be in that profession, they have to join the union. Once they're in, they are pretty much committed to whatever the union wants to do. I can't really fault them, but I agree about the pension being an outdated for of a retirement plan.
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Pensions are outdated for sure.
There are no sure guarantees that the money will be there even with the PBGC protecting them.
When they're out of money they're out of money.
The way to make the switch over to a 401K fair, would to grandfather the workers
who were hired with a promised pension receive the pension but offer a 401 k for them
going forward. New hires would only have a 401 k pension plan.